Financial inclusion has long been a challenge in many countries across the Middle East and North Africa. For example, according to Egypt Today, just 14% of adults in Egypt have a bank account.
The top 10 fintech modernizations in MENA
Financial inclusion has long been a challenge in many countries across the Middle East and North Africa. For example, according to Egypt Today, just 14% of adults in Egypt have a bank account.
5 debt collections trends to look out for in 2020
Over the past 12 months, debt collections has continued to evolve at a rapid rate. Customers are demanding more flexibility and streamlined service which better reflects the high demands of modern-day living.
Cybersecurity: the elephant in the room for debt collections processes
Cybersecurity has loomed over the retail banking industry and its debt collections processes for years as more high-profile cyber-attacks continue to hit the headlines.
Debt collections records are very sensitive as they contain a significant amount of financial information about customers. This makes retail banks who offer loans, credit cards and mortgages the perfect target for cybercriminals.
Third-party portals - the missing link between your bank and its collections agencies
Debt collections is a complicated business. There are many moving pieces to juggle and any number of things that can go wrong. That’s why many banks choose to outsource some of their debt collections operations to third party agencies.
Problems, however, can arise when there is a communication breakdown between banks and agencies, or when there is a disagreement. This is where solutions like the EXUS Financial Suite (EFS) step in to help organisations work together and recoup debts reliably and consistently.
Vietnam’s booming auto finance market needs a strong debt collection strategy
Vietnamese auto-finance is big business right now. A buoyant consumer confidence index, constant prime lending rates and growing car sales have been major drivers set within a healthy economic climate of GDP growth to rival China’s. This is coupled with a surge in new car ownership following a period of stagnation in 2017 while customers waited for a 0% tax on imported cars to kick in on January 1st 2018.
Digital adoption and debt: the retail banking market in Malaysia
While millennials are still maligned by the media, the truth of the matter is that many are settling comfortably into their thirties as we speak. Indeed, some are already parents themselves.
This is a demographic with definite purchasing power. It’s also a demographic in a lot of debt. And the problem is evident worldwide.
The shifting demographics of debt: Millennials and money
While millennials are still maligned by the media, the truth of the matter is that many are settling comfortably into their thirties as we speak. Indeed, some are already parents themselves.
This is a demographic with definite purchasing power. It’s also a demographic in a lot of debt. And the problem is evident worldwide.
Digital tranform in the UAE's retail banking sector
The UAE is a thriving market for banks right now, with gross assets increasing by 7.9% year-on-year in 2018 for the top 10 local banks. As a result, many major international players have been making moves in the region in recent months. Indeed, HSBC, which is comfortably one of the largest banks in the world, recently increased its stake in HSBC Saudi Arabia to 51% and smaller retail banks are beginning to follow suit.
How Debt Collections Software Will Change Ways of Doing Business in the Upcoming Years
Debt collection is a big business in the United States. According to IBIS World, the industry netted $11 billion in revenue as of June 2019. While this is a downward trend due to stringent debt collection regulations (calls are limited to six debt collection calls a day per account), this is still a lot of money.
The future of debt collections: Trends in new tech and customer service
There is barely an industry on earth that hasn’t been powerfully disrupted by technology. For some, the disruption has proven beneficial and they have emerged on the other side leaner, healthier and ready to face the next century with a wider smile and a more customer-centric attitude. Whilst retail ...
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